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<br />POLICY REVIEW AND AMENDMENT <br /> <br />The Finance Director shall review these policies in their entirety on an <br />annual basis. The policy may be amended in writing from time to time by <br />the City Commission. <br /> <br />AUDITS <br /> <br />Certified Public Accountants conducting audits of the City shall report as <br />paJ1 of the audit, whether or not the City has complied with applicable law <br />relating to investment of surplus funds. <br /> <br />EXISTING INVESTMENTS <br /> <br />Any investments currently held that do not meet the guidelines of the policy <br />shall be exempted tl'om the requirements of this policy. At maturity or <br />liquidation, such monies so invested shall be reinvested only as provided for <br />in this policy. <br /> <br />The Finance Director or designee may take a sufficient period of time to <br />adjust the existing portfolio to the provisions of the policy so as not to <br />require the premature liquidation of any investment. <br /> <br />EFFECTIVE DATE <br /> <br />This policy shall become effective immediately upon its adoption by the <br />City Commission. <br /> <br />Page 12 0 f 12 <br />